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Filed in 2005 dismissed in 2017 Now have a 2004 examination???

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  • Filed in 2005 dismissed in 2017 Now have a 2004 examination???

    We have a 2004 examination coming up on July 10, 2018. We filed bankruptcy in Oct 2005. The bankruptcy attys kept our case open till they were finally able to get money owed my husband from his former boss, then our case was closed in July 2017. NOW we get a letter that it is reopened and we are to appear for a 2004 examination next week??? They want 2015-17 tax returns, 1099 & K-1 forms??? WHY would they want current information? Its been 13 years and we didn’t have anything then and don’t now.
    We’re racking our brains on what this could possibly be about. The only thing mentioned in paperwork is “authorize the reappointment of Ch7 Trustee, to allow admin. of formerly undisclosed asset (DN 90)”
    We don’t have an attorney yet. Just not sure why they need recent information? Appreciate any insight!

  • #2
    Not knowing even one thing about your case, the only things I can think of are:

    A settlement from a class action stemming from some "injury" that may have happened before you filed bk. I have been dealing with former NFL players and their settlement and those involved with the Transvaginal mesh settlement both of which have recently taken effect. Causes of action in these types of cases can go back decades.

    An annuity you might have. Been following a case out here where the debtor thought he/she would get away with not disclosing a personal injury annuity settlement. 12 years after the case closed the debtor attempted to sell a portion of the annuity payments. That's when he/she got caught. Purchaser found out about the bk and immediately contacted the Trustee since the Trustee was the only one with authority to sell the income stream. The case was reopened and the asset was administered. In the end it seems to have worked out but this particular debtor could have faced some serious criminal charges.

    The only way for you to know why the interest now is to ask. Unless you had a problem on a personal level with your Trustee, why not call him/her?

    Des.

    Comment


    • #3
      We have neither of these issues.
      My husband did get double knee replacements in 2011 and got $60k to live on while he recovered.
      In 2012-13 we purchased a trailer on 3 acres but after we found out we couldn’t build a kennel there due to zoning
      we put down $10k and my mother helped with a loan of $13k. We had to sell it thru a land contract the payments came to my husband but we have my mom cash to make the mortgage pmts.
      We found a different home paid $8,500 down and got a land contract my daughter & I moved there in Jan 2013.

      In summer of 2013 (8 YEARS after we filed) my husband was surprised with an inheritance from his grandmas sisters of $33k we were able to get decent vehicles and pay some bills.

      I think in the summer of 2014 we were questioned by the trustee & his attorney (could have been a 2004 really don't remember????But it was informal. We were living on disability (but my husband was working some) so they were questioning what we “lived on”. Told them that husbands father had the rest of his inheritance and we could use it as needed to live on. We did not know the laws about inheritance after bankruptcy and they caught us off guard so we told them dad had it (which he didn’t). They went right after dad questioning about the money.. had to have his attorney communicate that he didn’t have anything to do with it. Never heard a word after that... they wanted 50k cash owed my husband so they focused on his old boss and succeeded in getting what they wanted.
      these are the ONLY things I can think of that they would need answers to??? Right now we live day to day I have $100 in my bank acct. So they can’t get blood out of a turnip!



      Comment


      • #4
        Wow, that is scary that a chapter 7 can continue for more than a decade and then they can seize $50k that was owed to your husband! My sympathies, 2twistedsis! How much did you owe when you originally filed in 2005?
        Surely they'll not try to force you into a new 7 ?!!
        I thought all BK7s and 13s ended and at some point you could keep an inheritance and move on with out the court continuing to scrutinize your every financial move !

        Comment


        • #5
          I just noticed that the title to your thread says "dismissed". Did you mean "closed" in 2017?

          As to the inheritance, if your husband was entitled to receive it before the case was filed or became entitled to such within 180 days after you filed then it belongs to the Trustee. If you failed to disclose the asset either when the case was filed or when you became aware of it such failure could be grounds to deny a discharge. Certainly, an omitted asset, even if not known, is never abandoned and the trustee has the right to re open a case and administer the asset, even years later.

          Again, the only way to really know what this is about is to ask.

          Des.

          Comment


          • #6
            Originally posted by despritfreya View Post
            I just noticed that the title to your thread says "dismissed". Did you mean "closed" in 2017?

            As to the inheritance, if your husband was entitled to receive it before the case was filed or became entitled to such within 180 days after you filed then it belongs to the Trustee. If you failed to disclose the asset either when the case was filed or when you became aware of it such failure could be grounds to deny a discharge. Certainly, an omitted asset, even if not known, is never abandoned and the trustee has the right to re open a case and administer the asset, even years later.

            Again, the only way to really know what this is about is to ask.

            Des.
            I am assuming that nothing gained, inherited, earned, etc. is subject to scrutiny AFTER that 180-day period? Say for instance a relative who was terminally ill passed away on the 181st day after bk was closed and you were aware you were the sole heir of their estate whenever they passed away. Nothing they can do, right?


            Comment


            • #7
              Originally posted by brokehmowner View Post
              I am assuming that nothing gained, inherited, earned, etc. is subject to scrutiny AFTER that 180-day period? Say for instance a relative who was terminally ill passed away on the 181st day after bk was closed and you were aware you were the sole heir of their estate whenever they passed away. Nothing they can do, right?
              Not sure you have a handle on this so, here it is:

              1. Once the bankruptcy is filed, it does not matter when you receive the inheritance. It matters when you first had an interest (right to receive) the inheritance. Your interest (whatever that may end up being) arises when the testator dies. A "will" speaks upon death.

              2. If the "rich uncle" dies either before you file bk or within the 180 days after the case (Chapter 7) is filed, then the interest (whatever that may end up being or however long it takes to finalize the distribution) belongs to the bankruptcy estate. If rich uncle dies on the 181st day after the bk (Chapter 7) is filed then there should not be any issue.

              Please note that there are specific Code provisions and Case Law dealing with inheritances when one files Chapter 11, 12 or 13. The comments in 2 above are geared to a Chapter 7 only.

              Des.



              Comment


              • #8
                Yes, my understanding is that in Chapter 13 (which is where we are) any inheritance received is 100% seizable until the entire debt has been paid or the mandatory 60 payments are made (i.e. you owe $100k but your payback is only $40k and the inheritance is $20K, so you end up paying back $60k. The creditors get $20k more, but you aren't able to repay your entire debt nor are you allowed any money from your inheritance.)

                Comment


                • #9
                  Originally posted by despritfreya View Post

                  Not sure you have a handle on this so, here it is:

                  1. Once the bankruptcy is filed, it does not matter when you receive the inheritance. It matters when you first had an interest (right to receive) the inheritance. Your interest (whatever that may end up being) arises when the testator dies. A "will" speaks upon death.

                  2. If the "rich uncle" dies either before you file bk or within the 180 days after the case (Chapter 7) is filed, then the interest (whatever that may end up being or however long it takes to finalize the distribution) belongs to the bankruptcy estate. If rich uncle dies on the 181st day after the bk (Chapter 7) is filed then there should not be any issue.

                  Please note that there are specific Code provisions and Case Law dealing with inheritances when one files Chapter 11, 12 or 13. The comments in 2 above are geared to a Chapter 7 only.

                  Des.


                  Thanks for your explanation! That's pretty much what I thought but wanted to be sure.

                  Comment

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